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telecity group plc (TCY) Details

Telecity Group plc operates carrier-neutral data centers that offer co-location and related services in Bulgaria, Finland, France, Germany, Ireland, Italy, the Netherlands, Poland, Sweden, Turkey, and the United Kingdom. The company provides infrastructure-as-a-service and hosting services; Cloud-IX, a platform for enterprises, cloud service providers, and ecosystem partners; co-location and managed support services; IT infrastructure design and consulting; data center network services consisting of Internet and intersite connectivity services; and Internet security services comprising managed firewalls, intrusion detection and prevention, and distributed denial of service mitigation services. It also offers data storage and data security services, such as data backup and recovery, and data archiving services; server management and performance optimization services, including device monitoring, load balancing, and server management services; and disaster recovery services. In addition, the company provides financing services. It serves networks and providers of content, applications, and data. Telecity Group plc was founded in 1998 and is headquartered in London, the United Kingdom.

telecity group plc (TCY) Key Developments

Telecity Announces Earnings and Operating Results for the First Half of 2015; Reiterates Earnings Guidance for the Year of 2015

Jul 29 15

Telecity announced earnings results for the first half of 2015. Revenue in the first half was broadly flat due to FX at GBP 173.5 million, which represents a 6.6% increase on an organic currency neutral basis, a slight improvement on the 6.5% in the first quarter. On an underlying basis, the increase was 9.3% with positive contribution from both divisions. EPS growth on an organic currency neutral basis in the period was 2.8%. Underlying revenue and EBITDA growth, together with a strong working capital performance, generated an increase in cash flow from operating activities of 20.4%, to GBP 74.7 million in the first half of the year. Adjusting the operating cash flow for the almost GBP 44 million CapEx in the first half of the year and coupled with increased capital discipline and much improved capital allocation resulted in free cash flow in the first half of GBP 30.8 million. CapEx in the first half of 2015 decreased 10%, as continued more disciplined and rigorous approach around the delivery of incremental capacity. Net debt at the end of the first half was just under GBP 307 million, which equates to a net debt-to-EBITDA multiple of 1.9x. Adjusted EBITDA was stable at GBP 81.3 million from 81.6 million the year earlier. The operating profit fell to GBP 21.1 million from GBP 54.8 million while diluted earnings per share slipped to 1.9 pence from 18.7 pence. On an OCN basis, adjusted diluted EPS advanced 2.8%.
For the period, the company reported churn fell year-on-year to 6.3% from 11.4%. Available customer power lifted to 117.1 MW from 5.4 MW at end December and 6.0 MW the year earlier.
The company expects levels to be more evenly distributed half year on half year for the remainder of 2015. All of these factors help support medium-term guidance of 9% to 12% OCN revenue growth. For the full year, the company reiterated its guidance for 8%-10% OCN revenue growth and a stable EBITDA margin, with slight downside pressure from investment.

Telecity Group plc Declares Interim Dividend for the First Half of 2015, Payable on September 18, 2015

Jul 29 15

Telecity Group plc announced that an interim dividend of 5.0 pence per ordinary share against 4.5 pence was declared by the Board of Directors and is payable on September 18, 2015 to shareholders on the register at 7 August 2015. This interim dividend totaling £10.1 million against £9.1 million has not been recognized as a liability in this half year financial report. The interim dividend represents an increase of 11.1% on the prior year and is the maximum amount that can be paid under the Cooperation Agreement signed in respect of the Equinix transaction.

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